Never mind the hung parliament, here's the euro rescue plan seems to be be message from the markets so far, with banking shares in particular registering a major relief rally.

The €750bn EU and IMF package hammered out overnight has lifted the FTSE 100 by 207.21 points to 5330.23, helping regain some of last week's near 8% losses. The German market is up 4%, France is 7% better and the euro has also bounced back as analysts said the moves - along with the US acting to maintain dollar liquidity and the ECB buying government debt - should give troubled countries like Greece time to get their finances in better shape.

Meanwhile traders were hoping for an end to the horsetrading over the next UK government, with Nick Clegg saying he would decided whether to form a coalition with the Conservatives by the end of the day. Almost as an aside, the Bank of England's latest interest rate ruminations are due at lunchtime - delayed from election day, of course.

Among the banks, Barclays has jumped 38.1p to 321.8p - a near 14 % increase - while Lloyds Banking Group is 5.16p at 58.69p and Royal Bank of Scotland has risen 3.97p to 49.47p. Standard Chartered is also higher, up 138p to £17.10 while HSBC is 44.8p better at 674.4p.

The market revival has also lifted insurance stocks such as Aviva, up 26.6p at 330p and Legal and General, up 5.4p to 81p.

Miners too are benefiting from the brighter mood, with Kazakhmys climbing 104p to £13.01 and Eurasian Natural Resources Corporation up 80p at £10.86.